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Benefit

Gold height to a record level after a customs duties report

by Priya Shah – Business Editor August 8, 2025

written by Priya Shah – Business Editor

RIYADH – Investors from the Peopel’s Republic of China are reportedly increasing their holdings in Saudi Arabian equities, driven by expectations that a period of intense price competition within the Kingdom’s oil sector is nearing its conclusion.

The surge in investment activity comes following a recent period of reduced oil prices instigated by saudi Aramco, the state-owned petroleum and natural gas company, and other producers. This strategy, intended to regain market share and pressure competing suppliers, resulted in a significant decline in profitability for some industry participants.

Analysts suggest that Chinese investors view the current market conditions as a favorable entry point. They anticipate that as oil prices stabilize or increase, the value of Saudi Arabian energy stocks will rise accordingly. Saudi Aramco, headquartered in Dhahran, is the world’s largest proven oil reserves holder, with approximately 256.9 billion barrels as of 2023. The Tadawul All Share Index (TASI), the primary benchmark for the Saudi stock market, has experienced volatility in recent months, mirroring fluctuations in global oil prices.

The Kingdom’s Vision 2030 economic diversification plan,spearheaded by Crown Prince Mohammed bin Salman,aims to reduce Saudi Arabia’s reliance on oil revenue and attract foreign investment in sectors such as tourism,technology,and manufacturing. This initiative has created a more welcoming habitat for international capital, including that originating from China.

China is currently Saudi Arabia’s largest trading partner, with bilateral trade exceeding $87.3 billion in 2022, according to data from the General Authority for Statistics in Saudi Arabia. The increasing investment in Saudi equities represents a further deepening of economic ties between the two nations. The Saudi Public investment Fund (PIF) also has significant investments in Chinese companies, indicating a reciprocal flow of capital.

Experts indicate that the long-term outlook for Saudi Arabian oil stocks remains positive, contingent upon global economic growth and the continued demand for energy. However, geopolitical factors and the transition towards renewable energy sources pose potential risks to the industry’s future performance.

August 8, 2025 0 comments

Business

Gold Prices Surge Amid Global Tensions and Fed Leadership Speculation

by Priya Shah – Business Editor August 7, 2025

written by Priya Shah – Business Editor

Grand Egyptian Museum Set to Open in November

Cairo, Egypt – the Egyptian government has officially announced the long-awaited opening of the Grand egyptian Museum (GEM) will take place in November. The proclamation confirms months of speculation regarding the museum’s launch date,marking a significant milestone in Egypt’s cultural and tourism sectors.

Located in Giza, near the pyramids, the GEM is poised to become the largest archaeological museum in the world dedicated to a single civilization. Construction began in 2005 at a reported cost exceeding $1 billion, funded through a combination of Egyptian government resources and international loans, including a $300 million loan from the Japan Bank for International Cooperation.

The museum will house an estimated 50,000 artifacts, including the complete Tutankhamun collection, many of which have never been publicly displayed. Key exhibits will also feature artifacts from predynastic and Old Kingdom periods, showcasing the breadth of Egypt’s ancient history. The museum’s design,by Irish architectural firm heneghan Peng Architects,incorporates a translucent stone façade and a grand atrium offering views of the Giza pyramids.

The opening of GEM is expected to significantly boost Egypt’s tourism industry, which has been recovering following periods of political instability. Egyptian authorities anticipate an increase in international visitors,contributing to economic growth and job creation.The museum is projected to attract over 15 million visitors annually once fully operational.

Egyptian Pound Exchange Rate Update

In related economic news, the Egyptian pound continues to be monitored closely against the US dollar. As of the close of trading on Wednesday, November 1st, the exchange rate varied across 11 major Egyptian banks. The National Bank of Egypt recorded a rate of 30.90 pounds per dollar, while Banque Misr showed 30.95 pounds. Other banks reported rates ranging from 30.85 to 31.00 pounds per dollar, reflecting ongoing market fluctuations. These rates are crucial for businesses and individuals involved in international transactions.

August 7, 2025 0 comments

Business

The fourteenth pension in 2025, however, in an amount higher than PLN 1878.91 and not only for seniors? Benefit also for young people, and payments in September

by Priya Shah – Business Editor August 1, 2025

written by Priya Shah – Business Editor

here’s a rewritten version of the article, focusing on unique phrasing while preserving all verifiable facts and delivering a breaking-news lead:

BREAKING: Government Poised to confirm September Payout for 2025 “Fourteenth Pension”

Warsaw, Poland – The Polish government is on the verge of finalizing the payment schedule for the 2025 “fourteenth pension,” with a draft regulation indicating the benefit will be disbursed in September. While the final confirmation hinges on a formal Council of Ministers‘ decision, the legislative process is reportedly nearing completion.

The amount of this year’s fourteenth pension is not yet definitively known, but the Council of ministers retains the authority to increase it. This additional annual cash benefit is characterized by its tax-free status, meaning it is exempt from deductions such as those for bailiff activities.Furthermore, it does not impact eligibility for social assistance, maintenance, or supplementary benefits for individuals unable to exist independently. The only deductions applied to the fourteenth pension are personal income tax and health insurance contributions.

The precise payment date for the fourteenth pension in 2025 is still subject to official confirmation through a Council of Ministers’ regulation. Though, a draft regulation, which has already been adopted by the Standing Committee of the Council of Ministers on July 8, 2025, projects a September 2025 disbursement. If this regulation is formally adopted, beneficiaries will receive the fourteenth pension alongside their regular September retirement or disability payments.

Crucially,recipients will not need to submit any applications to receive the fourteenth pension. The benefit will be paid automatically, and each eligible pensioner will be issued a decision confirming the grant of this additional annual cash benefit.

Legal Basis:
Act of May 26, 2023, on another additional annual cash benefit for pensioners (Journal of Laws of 2025, item 183).
Draft regulation of the Council of Ministers regarding the determination of the month of payment of another additional annual cash benefit for pensioners in 2025 (Council of ministers legislative work number: RD200).

August 1, 2025 0 comments

Business

The price of the dollar against the Egyptian pound is declining to less than 49 pounds, in the middle of Sunday’s transactions

by Priya Shah – Business Editor July 27, 2025

written by Priya Shah – Business Editor

Dollar Weakens Against Egyptian Pound Amidst Key Trading

Currency Sees Slight Dip in Major Banks

Cairo – The U.S. dollar’s value against the Egyptian pound experienced a noticeable decrease in several banks today. Trading mid-session saw the dollar fall below the 49 EGP mark, continuing a downward trend observed since Wednesday, just before the anniversary of the July 23 revolution.

Bank-Specific Declines

Major financial institutions recorded the dollar’s depreciation. The National Bank of Egypt and Banque Misr both reported a 19 piasters drop for both purchase and sale, setting rates at 48.85 EGP for buying and 48.95 EGP for selling. The Commercial International Bank and Al Baraka Bank saw slightly larger declines of 21 piasters, with rates at 48.83 EGP for purchase and 48.93 EGP for sale.

The Suez Canal Bank also reported a 19 piasters decrease, aligning with the National Bank of Egypt and Banque Misr’s figures for dollar transactions.

Economic Context and Outlook

This fluctuation occurs as Egypt continues its economic reform program. According to the International Monetary Fund (IMF) data from May 2024, Egypt’s foreign exchange reserves stood at approximately $40.3 billion, reflecting a stable, albeit fluctuating, economic environment. Officials have indicated ongoing efforts to manage currency stability through various policy measures.

Further economic insights and news regarding Egyptian banks can be followed on various platforms, including their official Telegram and YouTube channels. Information regarding investment in the Egyptian Stock Exchange is also available.

July 27, 2025 0 comments

Business

The fourteenth pension in 2025, however, in an amount higher than PLN 1878.91 and not only for seniors? Benefit also for young people, and payments in September

by Priya Shah – Business Editor July 26, 2025

written by Priya Shah – Business Editor

Hear’s a rewritten version of the article, focusing on uniqueness while preserving all verifiable facts, along with a breaking-news lead:

BREAKING: Polish Government Poised to Confirm September Payout for 2025 “Fourteenth Pension”

Warsaw, Poland – The Polish government is expected to finalize the payment schedule for the “fourteenth pension” in 2025, with current legislative projections indicating a September disbursement.While the final confirmation hinges on a forthcoming Council of Ministers regulation, the framework for this additional annual benefit is already established.the amount of this year’s fourteenth pension is not yet definitively known, as the government has not yet conducted legislative work to increase it. However, such an increase is procedurally possible and remains within the purview of the Council of Ministers.

A key characteristic of the fourteenth pension is its tax-exempt status. The benefit is free from deductions such as those related to bailiff activities. Furthermore, it is not factored into income calculations when applying for social assistance, maintenance, or supplementary benefits for individuals unable to exist independently. The only deductions applicable to the fourteenth pension are personal income tax and health insurance contributions.

Payment Timeline for 2025

The precise payment date for the fourteenth pension in 2025 is still awaiting 100 percent confirmation. This is due to the ongoing processing of a Council of Ministers regulation that will officially set the term. A draft of this regulation was adopted by the Standing Committee of the Council of Ministers on July 8, 2025. According to the legislative project, which is nearing completion, the payment is anticipated to occur in September 2025.If the regulation is formally adopted by the government, eligible beneficiaries will receive the fourteenth pension alongside their regular September retirement or disability payments.

No Application Required

Beneficiaries will receive the fourteenth pension automatically, without the need to submit any applications. Each eligible pensioner will be issued a decision confirming the grant of this additional annual cash benefit.

Legal Basis:

Act of May 26, 2023, on another additional annual cash benefit for pensioners (Journal of Laws of 2025, item 183).
Draft regulation of the Council of Ministers regarding the determination of the month of payment of another additional annual cash benefit for pensioners in 2025 (legislative work number: RD200).

July 26, 2025 0 comments

Business

UAE Stocks Plunge: Market Loses 14 Billion Dirhams

by Priya Shah – Business Editor July 22, 2025

written by Priya Shah – Business Editor

UAE Stock markets Suffer Significant Decline in Third Week of Ramadan

The financial markets in the United Arab Emirates experienced a substantial downturn during the third week of Ramadan, wiht a reported loss of 13.3 billion dirhams in market capitalization.

In contrast, a seperate report indicates a positive trend for the Emirati financial markets, with indicators closing in the green following transactions in January 2025.

July 22, 2025 0 comments

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